We are thrilled to announce a significant development in our roadmap – the opening of the bridge between the Ethereum mainnet and our LightLink Phoenix mainnet.
This strategic move is set to empower users and developers by granting them seamless access to the dynamic world of LightLink, enabling the transfer of numerous assets and the deployment of decentralized applications.
Here's What's New:
- Seamless Transfer and Deployment: With the bridge now operational, users can effortlessly transfer ETH and a range of other assets from Ethereum directly to the LightLink network. Furthermore, those who wish to deploy their contracts on our mainnet can do so with complete ease.
- Stepping into the Public Domain: Today marks a pivotal moment for LightLink Phoenix mainnet as it transitions from a private realm to a fully public and permissionless domain. This means, up until this moment, applications needed our team's assistance for deployment. However, now, we've handed the reins to you, the developers and users, making the ecosystem truly decentralized.
A Plethora of Transferrable Assets: A variety of popular assets can now be transferred via the bridge, including:
- Ethereum (ETH)
- Tether (USDT)
- USD Coin (USDC)
- Dai Stablecoin (DAI)
- Wrapped Bitcoin (WBTC)
- Arbitrum (ARB)
- Polygon (MATIC)
- Uniswap (UNI)
- Chainlink (LINK)
- Bitkub (KUB)
Once bridged, these assets will be represented on LightLink via a ticker that suffixes the original Ethereum Mainnet ticker with a ".e", for example bridged USDT would arrive on LightLink as USDT.e. This representation is to remind users utilising these tokens that these represent the bridged assets that remain in the bridge smart contracts on Ethereum mainnet.
When bridging funds from LightLink back to Ethereum mainnet there is a delay in place of approximately 48 hours before a user may claim their tokens following the burn of the LightLink assets. This is to accomodate a period for challenging submitted fraud-proofs, which is the usual case on an optimistic rollup chain.
- Emergence of DeFi on LightLink: We are already witnessing the onset of DeFi applications on our mainnet. With projects like Elektrik leading the charge, we are super excited for what the future holds. Additionally, with the gates now wide open, we invite developers worldwide to either integrate their current multi-chain applications or begin fresh deployments on LightLink.
Why This Matters:
The establishment of a bridge between Ethereum and LightLink Phoenix mainnet presents an immense opportunity for growth, interoperability, and innovation. As the blockchain ecosystem evolves, ensuring compatibility and integration across networks becomes crucial.
With LightLink Phoenix mainnet now being public and permissionless, it not only provides developers the freedom to leverage its potential but also reinforces our commitment to advancing a decentralized future.
To Our Developers and Users: Your trust and collaboration have been invaluable in reaching this milestone. As we celebrate the bridge's inauguration today, we remain eager to see the transformative applications and innovations you'll bring to life on the LightLink Phoenix mainnet.
Let's together pave the way for a more integrated, decentralized, and prosperous blockchain era! Welcome to LightLink Phoenix Mainnet. 🌉🔗🌍
LightLink & parent company Pellar enters Business Collaboration agreement with Thailands largest Cryptocurrency exchange, BitKub. Thailand serves as a key strategic market for LightLink and we are thrilled to extend the joint capacity of LightLink and BitKub in the region as well as globally.
BitKub represents over 90% of cryptocurrency transactions in Thailand.